Press release -
Allianz Musical Insurance makes significant pledge to the Help Musicians’ Coronavirus Hardship Fund
Allianz Musical Insurance donates £300,000 to charity helping musicians who are struggling due to the pandemic
The various national lockdowns have turned once bustling and thriving music venues across the country into desolate, abandoned halls. Halls that are begging to be filled with returning fans and music lovers.
But until then, musicians have had to resort to teaching or hosting concerts from their own home, for a much lower fee than what they are used to, and sometimes even for nothing.
Allianz Musical Insurance is committed to supporting musicians and the music industry during these tough times, and so has made the donation to the Help Musicians’ Coronavirus Hardship Fund to enable this inspiring charity to help more musicians in need.
For 100 years, Help Musicians has provided help, support and opportunities to empower professional musicians, at all stages of their lives and careers. The charity recognised that the pandemic would impact the tens of thousands of UK musicians who work on a freelance basis and so set up its Hardship Fund, which has been able to generate and distribute £15m to over 21,000 musicians so far.
Sarah Kirkham, head of Allianz Musical Insurance, said: “We’re extremely proud to support Help Musicians and their goal to empower musicians in need. We understand that many musicians are struggling during these tough times, and we’re pleased to support the music industry with our donation to the Coronavirus Hardship Fund. We hope this donation will help this inspiring charity to continue to provide support to those who need it.
“Covid-19 has impacted different sectors in different ways, and as there has been less activity in certain areas, there has been a knock-on effect to insurance performance. As a result, Allianz believes it is important to provide support to your industry at this difficult time.”
James Ainscough, Help Musicians chief executive, said: "Musicians face many unique challenges in their lives and careers, but the impact of Covid-19 is unlike anything Help Musicians has seen in its 100-year history. The level of support needed is vast, and while we’ve been in the privileged position to provide 20,000 with Financial Hardship funding, our work is far from over. As an independent charity, it is only through generous donations from musicians and music lovers that we are able to continue our work. We’d like to thank Allianz for their vital donation, ensuring we can keep taking applications for financial support during this difficult time."
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Further information on funding support:
How to access funding support:
We know that this funding is making a real difference to people struggling and we encourage anyone who needs support at this time to apply as soon as possible.
Now in Phase 3, the Fund provides monthly financial support targeted at:
Self-employed musicians who do not qualify for the Self-Employment Income Support Scheme
Unemployed professional musicians who are unable to make ends meet
The Help Musicians’ website contains guidance notes which outline the three-route system and eligibility criteria and an application can be fully completed online.
To read more and apply visit: www.helpmusicians.org.uk/hardshipfund
About Allianz Musical Insurance
Allianz Musical Insurance are the UK's No. 1 specialist insurer of musical instruments, and have been providing musical instrument cover since 1960. Today, they insure over 70,000 musicians, from beginners to internationally renowned artists.
Allianz Musical Insurance’s flexible and cost-effective insurance product is suitable for all types of musical instruments and equipment. As well as accidental damage, loss and theft, the policies cover unlimited professional use, loan instrument hire costs, and there's no excess to pay in the event of an instrument claim. Allianz’ specialist claims team work with various organisations to help track down lost and stolen instruments and reunite musicians with their instruments.
About Allianz Insurance
Allianz Insurance plc is one of the largest general insurers in the UK and part of the Allianz Group.
About Allianz
The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million retail and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 740 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage almost 1.6 trillion euros of third-party assets. In 2019, over 147,000 employees achieved total revenues of 142 billion euros and an operating profit of 11.9 billion euros for the group.
These assessments are, as always, subject to the disclaimer provided below.
Cautionary note regarding forward-looking statements
This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements. Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz Group's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates, most notably the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions including and related integration issues and reorganization measures, and (xi) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.
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